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Foreclosure: Impacts and Opportunities for Recovery Solutions 2013 September 16, 2013

Foreclosure: Impacts and Opportunities for Recovery Solutions 2013 September 16, 2013. Ashlyn Aiko Nelson Associate Professor, School of Public and Environmental Affairs, Indiana University. Disparate Impact on Minorities. Source: Jiang, Nelson, Vytlacil (2013).

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Foreclosure: Impacts and Opportunities for Recovery Solutions 2013 September 16, 2013

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  1. Foreclosure: Impacts and Opportunities for RecoverySolutions 2013September 16, 2013 Ashlyn Aiko Nelson Associate Professor, School of Public and Environmental Affairs, Indiana University

  2. Disparate Impact on Minorities • Source: Jiang, Nelson, Vytlacil (2013)

  3. Disparate Impact on Low-Income Borrowers? • On average, LMI borrowers in the CRA assessment area are less prone to delinquency than non-LMI borrowers • After accounting for differences in loan characteristics, LMI borrowers in the CRA assessment area are more prone to delinquency than non-LMI borrowers • Source: Jiang, Nelson, Vytlacil (2013)

  4. QM Impact on Minority and LMI Borrowers • Source: Quercia, Ding, Reid (2012)

  5. Solutions Help for Distressed Borrowers • HAMP/HARP • Foreclosure protection laws • Help for foreclosed families (e.g., school-based support) Help for Low Income and Minority Borrowers • Down payment assistance programs • Loan product assistance • A future for low-documentation loans? • A future for subprime loans? • Broker regulations • Public education: Low-income/CRA lending is not subprime lending

  6. Thank You Ashlyn Aiko Nelson Associate Professor School of Public & Environmental Affairs Indiana University Email: ashlyn@indiana.edu Tel: (812) 855-5599

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